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2012-12-10

2012-12-10

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CNBC - Wall Street Journal Rpt.

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CNBC
Wall Street Journal Rpt.

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dropped two tenth of a% at 7.7%. the labor department also says superstorm sandy had little effect on those numbers. >>> the markets continued their familiar pattern of following the latest word or words or hopes on fiscal cliff. no major moves during the week but several times the market ran out of steam to the end of the trading session. the house of representatives left for a long weekend on wednesday. so while there may be behind the scenes action in terms of talks, no one from the house is home. big moves by citigroup's new chairman and ceo. he announced 11,000 layoffs this week. citi will take a pre-tax charge of more than a billion dollars. the markets liked the move. the stock rallied about 7% on the expense cuts. >>> a big deal for netflix and dismy, they announced a licensing agreement to show disney movies shortly after they leave the theaters. the fiscal cliff and jobs numbers and state of the economy. who better to talk about all of that than robert reich, former secretary of labor in the clinton administration and current economics professor at the university of calif

KTVU - First Business

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KTVU
First Business

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reports its losses from damage and destruction caused by superstorm sandy will be $1.3 billion. it's green monday. the second monday in december is considered a critical day for retailers as holiday shoppers begin to realize time is quickly counting down to christmas. phillip streible of rjo futures is here to get us going on a monday morning. happy monday to you. > > and also to you. > it is going to be a busy week. we have a fed meeting coming up this week, and a lot of people are talking about this so-called "gold storm." what does that mean? > > what people are doing is they are looking at this fed announcement that is coming up and seeing if the fed will make any kind of adjustment to the current policy that they have in place. there is some talk that they may adjust some of the duration of the treasuries that they are looking at purchasing, so the gold market may continue an upward rise right through $1,735. really i think the next key psychological level is $1,800. > what do you anticipate from the stock market? will we see any kind of follow-through on the jobs number this week? >

CURRENT - Liberally Stephanie Miller

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CURRENT
Liberally Stephanie Miller

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and sandy steer, the proponents in the prop 8 case. >> yep. >> stephanie: it really is -- i was getting the calls all weekend. because people think i know, for some reason, remember like during the election, people would grab your lapels at a party and say "what's going to happen"! what do the polls really mean? is there someone i can read that will make me feel better like nate silver did? the answer anyway, the reiners and the chris perries, they were both elated and very optimistic. i know, you know, they obviously would know more than most people i know. other people nervous because they're like it has come down to one guy. one guy. >> i was reading an analysis by an actual lawyer. >> stephanie: oh, well, look at you. >> he said that the way that the justices were asking the questions, kind of pointed to something that might be positive for -- >> stephanie: that's what chris perry said to me. we'll talk to her and her lovely hopefully future wife in the next hour. she was saying i don't think they would have

KQED - PBS NewsHour

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KQED
PBS NewsHour

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sandy, raising health concerns. >> everybody sort of got sick at the same time. all of us sort of attributed it to, well, we're all stressed out. it's very cold. but that said, there is a lot of nasty stuff hanging about. >> ifill: and hari sreenivasan has an update on the dangerous working conditions in bangladesh, where more than 100 workers have died over the past month. that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: president obama made another foray outside washington today, trying to build public support for a fiscal cliff agreement. it came a day after he resumed talking wit

CURRENT - Liberally Stephanie Miller

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CURRENT
Liberally Stephanie Miller

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comedians. that's why for my upcoming benefit for victims of hurricane sandy, i booked the strongest, smartest comics i could find. my comedian friends and i will raise money to rebuild homes and lives one laugh at a time. so tune in next friday for my all star comedy special. >> together we can get new yorkers back to yelling at strangers and ignoring our friends. [ male announcer ] red lobster's hitting the streets to tell real people about our new 15 under $15 menu. oh my goodness! oh my gosh this looks amazing! [ male announcer ] our new maine stays! 15 entrees under $15 seafood, chicken and more! oo! the tilapia with roasted vegetables! i'm actually looking at the wood grilled chicken with portobello wine sauce. that pork chop was great! no more fast food friday's! we're going to go to red lobster. yep. [ male announcer ] come try our new menu and sea food differently! and introducing 7 lunch choices for just $7.99. salad, sandwiches, and more. >> announcer: ladies and gentlemen, it's "the stephanie miller show." ♪ i'm walkin' on suns

KGO - ABC7 News 600PM

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KGO
ABC7 News 600PM

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's ahead if you're expecting a package this week. >> i'm meteorologist sandy patel. to record high temperatures today bu >> fans going to the 49ers today got a chance to make a child's christmas the best ever. members of operation dream called out for donated toysle the dry drive is partnered by the 49ers and the san francisco police department. even a small gift makes all the difference. >> kids need to know that people care about them. they need to know it's so much bigger than where they live. there's a whole world out there that they get to experience, and so when they know that people care about them, they start to go, oh, there's more to life. >> the gifts will be distributed throughout the city to children in public housing. >>> tomorrow might be just the second monday in december but it's suggested to be a record day for shipping by fedex, fedex expects to ship 19 million packages tomorrow alone, more than double the usual volume. between thanksgiving and christmas, they moved 280 million packages, up 1% from last year. >> gas prices are dropping just in time for the holida

FOXNEWSW - FOX and Friends

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FOXNEWSW
FOX and Friends

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can text me. million in taxpayer dollars spent on free lunch to hurricane sandy. meals went to kids even if their homes were not damaged. everyone got the free meal. >> steve: kids did in the new york school . tax on gasoline if the president gets his way. who would be hurt most? find out next. ♪ ♪ ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? it's hard to see opportunity in today's challenging environment. unless you have the right perspective. bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management nespresso. where i never have to co

FOXNEWSW - FOX and Friends First

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FOXNEWSW
FOX and Friends First

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during super storm sandy. when they left behind wasn't safe at all. tell but that 20 minutes to the top of the hour. new trident layers juicy berry + tangy tangerine ride to mouth fun-town. d but it's not like everyone is going to break into a karaoke jam session. ♪ this will literally probably never happen. you spend all day cooking it. so why spend even a moment considering any broth but swanson? the broth cooks trust most to make the meal folks spend all year waiting for. in stuffing and more, the secret is swanson. this bible changed the world. i'm kirk cameron. four hundred years ago our forefathers risked their lives to bring this bible to the shores of america. because it contained the principals for economic liberty, political liberty and religious freedom. the 1599 geneva bible. it was the first complete english translation, complete with chapters, numbered verses and 300,000 utterly unique study notes. it actually came out before the king james version and because the government didn't authorize it, it was outlawed. but it was a bible by the people, for the people, the boo

CNNW - Starting Point

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CNNW
Starting Point

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seven years to build up scholars academy and only minutes for superstorm sandy to destroy it. we'll take a look at a school trying to recover and rebuild. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. >>> welcome back, everybody. last week poppy harlow was with us to tell us the story of ryan panetta. eighth grade student who lost his school. he went to a school called scholar's academy 56 in new york. still closed because of the damage to superstorm sandy. poppy harlow has his story. take a look. >> reporter: you can still smell the destruction sandy wrought at scholar's academy. >> you still get the fish tank smell in here. >> reporter: the new york public school is wedged between the atlantic ocean, jamaica bay, and a sewage t

KGO - ABC7 News 500PM

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KGO
ABC7 News 500PM

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york. >> ama: well, let's get a check on the weather with sandy patel. our weather is changing. >> let's show you an outside shot. you can see how beautiful it alongs towards the golden gate bridge here. lots of sunshine out there. a few high clouds and that's it. let's go to live doppler 7hd right now and i'll show you what it looks like from this perspective. skies are clear. and we have no rain to speak of right now but our own radar on mt. st. helena will be tracking rain. today was warm, mild to warm, depending on where you are, and warm enough to set records. keptfield, 70 degrees, tied the previous record. 66 at the oakland airport. that actually broke its previous record by one degree. downtown oakland with 70 degrees. san jose, 67. up to 67 in half moon bay. san francisco, 66 degrees and a nice day down in upper napa area. 71 today. here are your current temperatures. still mild. 68 in oakland. 63 in san francisco. we have 66 degrees in san rafael. here are the highlights. clear and cold in the valleys tonight. sunny and mild weather on monday and rain returns tuesday night, i

CURRENT - Full Court Press

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CURRENT
Full Court Press

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disasters like comedians. that's why for my upcoming benefit for victims of hurricane sandy, i booked the strongest, smartest comics i could find. my comedian friends and i will raise money to rebuild homes and lives one laugh at a time. so tune in next friday for my all star comedy special. >> together we can get new yorkers back to yelling at strangers and ignoring our friends. [ music ] >> heard around the country and seen on current tv, this is "the bill press show." >> bill: you bet. 25 minutes after the hour. the supreme court, it's going to be interesting to see how we -- we know how scalia and clarence thomas and samuel alito will rule but where will john roberts come down? will he begin be the swing vote? how about anthony kennedy? i think it's only a matter of time. and the supreme courters of the marriage equality are saying by independence day july 4th, we ought to know whether or not the constitutional -- the states that have banned same-sex marriage, whether that will be ruled unconstitutional. peter, what have you got on before we go to the phones?

MSNBCW - Andrea Mitchell Reports

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MSNBCW
Andrea Mitchell Reports

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couples that brought this case ultimately, chris and sandy, and paul and jeff, simply wanted the right to be able to marry the person that they love, and for their families to have the same recognition as their neighbors, and that's why this case is so simple. i do believe it was the right time, and i am confident, i am optimistic that once the court hears this case and sees the evidence that was preblted at trial, that as they have so many times in our nation's past, will come down on the side of freedom and equality. >> it's clearly where the american people are in terms of all the polling. the country has moved on. it's accepted. gay marriage is -- >> no question. >> same-sex marriage is simply an accepted fact of life, and so many families across the country. yet, the risk is that this could become illegal. what happens to all of these couples? what happens to their rights? >> look. at the end of the day, again, i'm optimistic we'll win this case. as we did in the lower court and by a judge who was first appointed by ronald reagan and then later by george bush. and then won at the

CNBC - Closing Bell With Maria Bartiromo

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CNBC
Closing Bell With Maria Bartiromo

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mccormick, sandy lincoln, and john spolinsani. what do we do between now and the end of the year? >> we wait. you hope there will be a resolution with the fiscal cliff. also 2013 could be a difficult year. it's the first year of the presidential term which is usually a weak un. earnings growth looks a little bit weaker. we are very big on di dends. we believe this is a grinded out market. prepare for instability. >> so it's glass half empty for you right now. >> we'd like to be optimistic but tell clients buy with sound balance sheets. and if the market goes up better, we're in a better position. >> i have to press you on what you say about you like companies that pay better dividends? >> right now you're looking at the. senate bill will will tax for gross incomes of $250,000. that's not a deal killer. there was an article this week talking about how dividends -- people buy dividends for income and downside protection. those issues do not go away regardless of what happens with taxes. people need income. >> you told us last time you liked europe. what about here in the united sta

KGO - ABC World News With David Muir

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KGO
ABC World News With David Muir

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to do with post sandy. the supply is back up and the hope is that consumers will take the money and spend it shopping. >> that is the hope. and jobs number, better than expected. unemployment now to 7.7%. and bianna, people watching tonight, where are the jobs? >> that is the question. we did some digging and here is what we found. not a surprise. retail up, 53,000 up in, and professional, hospitality and restaurants. hotels and 23,000 and health care up 20,000. these are good numbers. and will it continue? they are not so sure given what is going on in washington. >> that is the big question, bianna, thanks for being here. >>> in the nfl today, they were mourning their tragic loss. the dallas cowboys bowing their heads in a moment of silence to remember their teammate jerry brown who died in a car accident. it was another team member, josh brent, who was driving. he is charged with driving drunk and manslaughter. today in court, he was unable to make dale. he issued a statement saying i will live with this horrific and tragic loss every day for the rest of my life. >>> there is

KRON - KRON 4 Early News

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KRON
KRON 4 Early News

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the super storm sandy are rushing to rebuild their boardwalks in time for next summer. there and raise the finished by the end of may to retain torras money they will need next year. seaside heights new jersey is about 75% of its budget from tourism. towns like bellmawr address their spending about $20 million to rebuild its boardwalk. michael bloomberg wet snow new wooden boardwalk to be built. he favors concrete boardwalks which are more durable. >> we're just a few minutes away from the opening bell ringing on wall street. let's take a peek at the trading floor as we wait. we will be right back. opening bell on wall street on this monday morning. looks like we have made down day to early trading. the dow was down 22 points ahead of the opening bell. rob black will be coming up here about 15 minutes. >> good morning, this guy is starting to braden and you concede the winds in the higher elevations. we do have at some temperatures in the upper 30's. that is reserved for the north bay as we push into the afternoon expect mid to upper 60s. we will continue as a drag dry as we head into

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, there's no sandy areas like there used to be. let me show you the key i(çc found in buena vista. graphics please. >> clerk calvillo:j' please. >> ben vista park. i jy something. i pulled the dirty harry movie haven't done since piqs then. she probably goes do you have a computer or what are you doing ins nasty hayes casting, or -- where i had to get my money back because they wanted to put me into anything. and flying back and forthq l.a. or las vegas, and even they don't do much. it's a little better,we know, not thatú6( x':h( :@ much. anyway, ♪ i've looked high and lowo.sm in everywhere i possibly city can but there's no trying to get the.p%( y city feeling again> my name is eugene gordon jr. all %( sre this balloting for:: and democratic p

KTVU - KTVU Morning News Early Edition

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KTVU
KTVU Morning News Early Edition

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for the weekend. >>> a bay area one area, can it be saved after hurricane sandy, the emotional battle of how to bring them back to life. >>> approaching the 880 supply the we will have traffic and weather. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver only from at&t u-verse. get u-verse tv for $29 a month for six months. rethink possible. . >>> the big-rig fire did take down a fire line, tara moriarty has more information and is on the scene and we will have more details coming up. >>> the clock is ticking and the nation is three weeks away from falling off that fiscal cliff. the president and house speaker john boehner metaphor talks over the weekend and -- met for talks over the week

FOXNEWSW - Your World With Neil Cavuto

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FOXNEWSW
Your World With Neil Cavuto

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by hurricane sandy with fema trailers sitting idle in pennsylvania and a staten island resident has had it what did you make of this? >> well, thanks for having me. i feel it sun fair. i have family that i can stay with. family has denied me rental assistance or temporary living. i assume that is because they left 3 1/2 hours away from us after bringing them from texas and wasting our time and money and their efforts. it is completely unfair and ten days before christmas you want to take away what you have given them temporarily. they should health the people start receiving checks from their insurance companies and maybe some progress in the house before they give them the boot. if you didn't have family, chris, would you have been able to benefit with the temporary housing or hotels that others have taken advantage of? without have been able to qualify? >> in the beginning we assumed we would stay with our families and we applied for rental assistance and they did not give us any help, my wife me, my young babies at the time. >> we hearing and we could not get anyone from fema and we tried th

KRON - KRON 4 Early News

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KRON
KRON 4 Early News

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on sandy are rushing to rebuild their boardwalk in time for next summer. they are in a race to finish by the end of may to retain tourist money they will need next year. seaside heights, new jersey gets about 75% of its budget for tourism. sounds like bellmawr, new jersey in spending around $2 million to rebuild its boardwalk. new york mayor michael bloomberg said no new wooden or what should be built. as he favors concrete bring more adorable. >> first a live look outside on your monday morning from the golden gate bridge. you can see we do not have fog on this monday morning. the weekend brought us lots of sunshine that weather will continue mostly sunny skies today. similar high as compared to yesterday's few degrees warmer especially in the south bay. we are tracking storms that could impact us tuesday night may be the middle of the week. erica will have more details on your forecast. when we come back will take a look at your top headlines. stick around. welcome back. happy monday. the time is 4:29 we see the light on the building as we take a look at san francisco. erica will le

KGO - ABC World News Now

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KGO
ABC World News Now

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to prehurricane sandy levels. analysts say prices should be down to around $3.20 a gallon by christmas. >>> a member of the navy s.e.a.l. team six has been killed in a daring raid to free an american doctor from the taliban. dr. joseph was rescued early sunday in eastern afghanistan. dr. joseph, a medical adviser for colorado springs based morning star development, was rescued after intelligence showed he was in imminent danger of injury or even death. >> a hostage rescue mission is really, really dangerous and carries a very high risk that the hostage, him or herself could be injured or killed. so you need somebody at a very high level to say i am authorizing this mission. >> the doctor was not hurt, but one of the navy s.e.a.l.s in the raid died yesterday of his wounds. president obama praised the fallen warrior, saying he gave his life for his fellow american. >>> former south african president nelson mandela is in the hospital this morning as people across that country and around the world send wishes to the anti-apartheid icon. mandela, who is 94 years old, was admitted to a hospi

FOXNEWSW - The Five

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FOXNEWSW
The Five

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-out a success. that is like hurricane sandy is a mess. the only successful expert is people. they are greating the hell out of there. going back to people like snyder, obama is happy to take the money from the rich. both won't take advice from people are rich. he doesn't want to learn how to fish. he just wants to take the fish. >> bob: detroit has been in trouble for a long time. right to work. here the unions collectively bargain, great rates. they allow scabs in there and take advantage of the money. >> eric: you just made the case for busting up the union there. detroit has been in trouble for a long time, republican or a democrat. you are 100% right. >> bob: does it have something with every other major city in country. >> dana: michigan should be allow to make its own decisio decisions. michigan voters, the overall households support. this 45% of the union households support the move. 39% of the democratic households support it. 55% of the republican households. there is momentum. they realize they have to do something. this would be a fundamental change. that could alter the history. >>

CNBC - Squawk on the Street

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CNBC
Squawk on the Street

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. will they then be in a position to cash the company out entirely. >> sandy hurt that. higher than i would have thought. the government is free to trade. they got 15%. and i think that people who -- my take is, if you want to buy aig, i think that goes up. i would have hoped that the proceeds from the deal you mentioned would be able to take it and chop it up. i'm worried about the sandy. you've got to keep interest in the end. insurance companies, got to keep capital free. >> i wanted to mention, we mentioned this on friday, the chinese have been aggressive, setting records in terms of merger and acquisition volume. we talked about this on friday, take a look across the borders from china, that helps the story. that $15 billion deal did get approved from the canadian government. they do own some assets in the gulf of mexico. although that is not expected to be problematic at this point. but take a look at what happened in the stocks on friday. that, after we received word there would be a statement from the canadian prime minister. that freaked a lot of risk arms out. did not have a lot of conviction

CSPAN2 - U.S. Senate

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CSPAN2
U.S. Senate

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a subcommittee field hearing in new jersey next monday december december 10 on super storm sandy. senator toomey. >> thank you mr. chairman and thank you mr. secretary for joining us. i would like to understand better and aspects of the actuarial review. the question arises from the interest-rate assumptions and the interest-rate interest rate environment that is used to determine the prevailing view about the value of the mutual mortgage insurance fund and the family fund. more specifically, you observe on page eight of your testimony the fact the worst shape the fund is to simplify that and you walk through the mechanisms by which a lower interest rates while good for the economy overall tend to have an adverse impact on the value of the fund. my understanding is that the actuarial review contemplates glowegee straight environment. and in the low interest-rate environment, the value of the fund is negative $31 billion. aren't we in a low incher straight environment today, and partly by virtue of what the fed has said, which is to say maintaining current policy at least through mid-2015, so thr

CNBC - Worldwide Exchange

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CNBC
Worldwide Exchange

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.s. jobs reports. nonfarm payrolls roads by 136,000 as the hit from hurricane sandy wasn't quite as bad as feared. the unemployment rate fell to a new low of 7.7%, but that was largely because many people had given up looking for work. and nearly half of u.s. companies say they would pull back on hiring if the economy goes over the fiscal cliff. now joining me on krn, jim cash. good morning and thanks for joining us. >> good morning. thank you. >> tell us a little bit about the results of this survey which indicate that companies have been reacting to the fiscal cliff by pulling back on spending or hiring. why haven't we seen that show up in the jobs report? is there a concern that we might see more of a pullback into next year? >> i think that's exactly what this survey is saying. about 50% have already taken some action. i think companies right now are waiting to see what's going to happen and it really comes down to two major issues. if we can get this fiscal cliff issue resolved, then we are looking at a pretty optimismic outlook from our members. but if we don't get the fiscal clif

KTVU - Mornings on 2

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KTVU
Mornings on 2

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the board walks from hurricane sand. the costs -- sandy. the costs range. many towns are debating whether to build with wood or more stronger materials. some sentimental locals say you can't have a boardwalk without boards. others say the wood just is not strong enough to survive these kinds of storms. >>> it looks like there won't be any more strikes at the portland of oakland for a couple of years. 500 workers who walked 0 the job for one day last month have now ratified a four-year contract. it gives them 2 1/2% cost of living increases next year and in 2014. there's also a $3500 signing bonus. the port commission is expected to approve this new contract next week. >>> well, close to 38,000 people have already signed an on online petition against the new logo for the university of california. the new, more simple and contemporary image, there it is. it was unveiled on friday. besides the website changed, there's several other facebook pages stopping the university from using. they say they will still use the 144-year-old seal but says the new logo represents a modern look for the unive

KRON - KRON 4 Morning News

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KRON
KRON 4 Morning News

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and chronic homelessness by the end of 2015. >> coastal communities destroyed by superstar on sandy are rushing to rebuild their boardwalks and tie for next summer. they are in the race to finish by the end of may to retain tourists money that will need next year. seaside, that's- seaside heights, new jersey gets about 75% of its budget for tourism. towns like bellmawr, under their spending around 200--$20 million to rebuild its war wall. new york mayor olmert has said no new wooden boardwalk should be built. as he favors concrete boardwalk we will get an update on the dry times in the morning commute coming up and watch of the weather. we have blue sky out there on this chilly monday morning when we act in a minute on kron 4 morning morning when we act in a minute on krlook at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an a

CSPAN2 - U.S. Senate

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CSPAN2
U.S. Senate

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reasons why in the credibility of military threat is so important. one reason is, sandy, i think it was, indicated cannot be aryans to respond to credible threats of force. you looked at the hostage crisis it was resolved when the ron reagan was elected. you read the biographies of the hostage-takers, they act like a cowboy. their release the hostages the moment he was sworn in. it's not that well-known, but the soviets were taken hostage at their embassy at the same time. the soviets threatened to bomb tehran. their hostages were let go. it's also important to note that the iran-iraq board came to an end when the u.s. mistakenly shot down an iranian civil airline. the iranians thought, well, the u.s. is going to get into this war no-holds-barred and the ayatollah made a speech. during the poisoned chalice. the cards were such that he had to simply take the best deal he could. that recommending they bond in iranian airline. on to say their is a lesson there. they backed down in the face of a credible threat of force. at the same time, if you were the iranians your thinking to yourself,

CNBC - Squawk Box

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CNBC
Squawk Box

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of that is sandy. you can't disentangle it. i'm sure it would have been better if it weren't for the uncertainty. we saw how bad it was in the summer of '11 and it will be the same now. >> i very much agree with ian on this point, that the uncertainty is associated with the fiscal cliff is at least a percentage point on the fourth quarter. and could be more than that. it's just a lurking weight on the business sector. and if we are going to get this growth, i think we've got to have a little bit more certainty on taxes, on regulation, and the trajectory of fiscal policy going forward. >> what i hear you both saying, though, and you're talking about spending issue, and not worrying so much about that, but i also hear you saying it would be a big mistake to raise taxes. >> absolutely. yeah. >> but the top 2%, is that the least deleterious people to raise it on? >> yeah, it would be. but right now i'd prefer not to raise taxes on anybody. but if you're going to do it, then the people at the lowest propensity to consume -- >> you don't buy that small businesses fall under that? >> no, most small bus

CNNW - The Situation Room

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CNNW
The Situation Room

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? >> three things. one is superstorm sandy took a lot of cars off the road. it really reduced demand for gasoline as you know. until recently there have been a number of gas stations in the northeast still without gas. people after realizing they weren't going to have as easy a time getting gas decided to make other plans it the storm itself took some roads out and took some people off the road. number two, there were some refinery issues in california going on at the same time. they've been resolved. that's put more gasoline online. the third thing, this one's important, crude oil prices, which are really the underlying feedstock for gasoline, crude oil prices have remained low. as we are concerned about the fiscal cliff and a slowdown in the world's economy and in asia and in europe. so these are the three factors that have come together to give us a sustained drop in the price of gasoline almost over the last three weeks, wolf. >> is this a short-term development? what's in store over the longer term? >> we're into that lower driving season. obviously, spring and summer are bigger

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